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saudi arabia? could an abundance of shale oil in the u.s. actually bring about energy independence by the year 2020? we drill for the truth straight ahead. and how rich is rich? the president wants higher taxes for americans earning more than $250,000 a year. is that fair? or should that number actually be $1 million? and could this be the key to resolving the looming fiscal cliff? that and a lot more is still to come on the "closing bell." >>> if a budget is not agreed upon to avoid the fiscal cliff, the average middle class family will pay $2,000 more in taxes. >> that's right. crunch time is upon us. the markets and economy will be held hostage until lawmakers do reach a deal on the fiscal cliff, presumably between now and the end of the year. >> eamon javers is breaking down the plan. over to you. >> just before the break, you and bill were debating whether or not it's too early to start getting sweaty palms about in fiscal cliff problem in washington. as a guy covering capitol hill for almost 20 years, i can tell you it's never too early to panic about what washington might do
called black elk energy operates that rig. reports are that a worker may have cut a line with a settling torch. four people have been rushed to the hospital, two are reportedly still missing. so far we have no reports of oil actually leaking into the gulf. >>> meanwhile, also breaking right now, the u.n. nuclear agency says iran is about to double output of higher enriched uranium. now that is a material that can easily be turned, we're told, into a nuclear warhead. sharon epperson is following the oil impact on both of those breaking stories. sharon, over to you. >> brent crude prices are higher as well as wti but you may expect that they would have been even higher based on the news that we're hearing. we do see brent crude futures above $108 a barrel and wti futures near the $87 mark. we are seeing a continuation of pretty big spread though between these two contracts. traders here on the floor are telling me that's what lets you know it is what is happening in the middle east, it is the iran report, it is also what we are seeing in terms of the oil rig on the gulf that's lifting the
, at of the retailers of course. but monster, another big one we're watching. but energy drinks as a category is linked to adverse events and hospitalizations which is not a good thing when you're in that industry, you're looking at potential. and maybe warning labelis which are not a good thing either. >> the corner of a -- it's a triangle, jim. >> there's no resting place. here's the deal with monster. monster's last conference call, they did this remarkable test versus starbucks, and said they had less caffeine than starbucks, i actually bought a box of them at costco. i had to save them for -- and no, i mean these are really, i think, off the reservation, the five-hours. >> to say they have less caffeine than -- if i were a consumer looking for a caffeine jolt, they're saying that starbucks has more caffeine and is not linked to any adverse events. but starbucks is saying why are you lumping us into the 5-hour. maybe you should have -- at the same time the government is a -- the government doesn't come in and say, you know what? we like some energy drinks and not others. we don't like energy drinks
in equity prices on the prospects of a fiscal cliff aversion, energy and technology. technology is down double digits. energy fell off as oil prices fell down to the mid-80s, somewhat toward an uptick. >> gentlemen, thank you all. arthur, good to see you on set with us. >> thank you very much. >> thank you for joining us today. we call this fiscal cliff investing. bertha coombs joins us with the potential winners and losers in how investors can play all this with a fiscal cliff portfolio. >> and they've been doing it already. if the president and congress fail to reach a deal on the fiscal cliff the expectation is that stocks will be the big loser. defense stocks in particular with a prospect of massive budget cuts starting january 1st. now, they've been hard hit since the election, turning around a bit today. cnbc looked at a portfolio of etfs that correlate with the moves in the market on the fear of hitting fiscal cliffs in particular sectors, including etfs that short stocks, negative bets on the market, like the ultrashort s&p eft. down all year, its been a gainer since the electio
are an energy food. >> perfect for bloomberg to go on -- if it hasn't gone bankrupt, he would have tried to shut it down. >> jeremy, will you wear a rise a above -- you asked for one. >> yeah. i saw you rising and levitating. >> goolsbee wouldn't wear one because he was sure there was right wing conspiracy. are you ready to wear one. >> >> rise before has all sorts of con know takingnotations. >> but they're all good. >> yes. but i don't have a viagra pen. >> i asked goolsbee, what about be kind to animals. >> people see whatever they want. >> i will wear an i love hot dogs pin. >> it's a hint at compromise and that's what people don't like. >> in my mind, it doesn't hit a compromise. the president needs to compromise. that's how i see it. >> the republicans don't have to rise above? >> no, they've already put revenue on on the table. now let's compromise on on entitlements. you can lower marginal rights and raise effective rates, right? >> if the president didn't stand in the way, could you have a 1986 tax deal, take off preferences. you could lower tax rates which help the economy. everyone ca
Search Results 0 to 4 of about 5